WORKFORCE RETENTION:A SERIOUS ISSUE OF COLLEGES AND UNIVERSITIES IN PUNJAB AND CHANDIGARH

Retention is the process of physically keeping human resources in an organization as it is one of the key fundamentals that are necessary for organizational success. Employee retention refers to policies and practices which organizations are following to prevent valuable employees from leaving their jobs. How to retain valuable employees is one of the biggest problem that plague organizations in the competitive market place. Employees need to be retained because good, experienced, trained and hard working employees are required to run academic institutes. They have acquired good subject knowledge over the long run and a trained academician can handle students in a better way, as today’s learners become the future leaders and solve the problems of society. The present study is based on the issues and challenges in employee retention of colleges and universities in Punjab and Chandigarh. The objective of the study is to highlight the various factors which affect retention initiatives in the academic sector and to explore the relation between various factors and job satisfaction. This research discusses reasons why colleges and universities of Punjab and Chandigarh face the problem of employee retention. The research has been conducted with a pre tested questionnaire covering various factors that examine the reasons and impact of employee retention in the universities and colleges of Punjab and Chandigarh. The data is analysed with the help of SPSS 21 and for the analysis the descriptive statistical techniques like frequencies, percentages, cross tabs, correlation were adopted. The study concludes that the working environment is supportive for the teaching faculty in the colleges and universities of Punjab and Chandigarh but incentive systems are not well designed which causes dissatisfaction in the teaching faculty.